Jobseekers face toughest market amid manufacturing slump

Job seekers view position openings at a employment convention held in Jung-gu Seoul July 1 2025 Yonhap — Job seekers look at job postings at a job fair in Seoul on July 1, 2025. Yonhap

SEOUL, August 12 (AJP) - Amid the prolonged economic downturn, the country’s toughest job market meant there were only 0.4 positions available per jobseeker last month, the lowest level seen in more than two decades.

According to a monthly report released on Monday by the Ministry of Employment and Labor, the number of jobs available per jobseeker fell to 0.4 in July, down from 0.51 a year ago and also the lowest since July 1999.

Job ads posted on government recruitment sites totaled approximately 165,000, down about 16.9 percent from the previous year, while the number of jobseekers rose 5.5 percent to around 411,000 during the same period.

The ministry attributed the deteriorating job market to a worsening shortage of manufacturing-sector jobs, exacerbated by challenges in production and exports.

Relevant figures reflect this trend, as the number of employment insurance subscribers dropped by some 5,000 workers in manufacturing and 19,000 in construction amid a prolonged industry slump lasting more than two years.

But service industries and healthcare and welfare industries managed to add more jobs, among the country's total 15.6 million workers with employment insurance as of July.

Applicants for unemployment benefits remained relatively stable at 111,000 in July, down slightly from the previous year. However, total benefit payments rose 3.3 percent to 1.1 trillion won as more unemployed workers and jobseekers have lingered for several more months in finding their new jobs.

Kim Dong-young davekim0807@ajupress.com